On Tuesday, 31st August, GBPUSD did an attempt to break below the support of Week 34, but the breakdown didn’t stay long. The next day 1st September, price went back up and continues to get supported at the Week 34’s low.
At the same time, GBPUSD seems to have a potential reversal pattern forming, where price has been forming lower high and lower low, but we can see that price seems to be doing a higher low at the moment.
We might be seeing some potential upside IF the blue trend line is broken above.
Look out for strong support level together with fibo-confluence or any setup in the lower timeframe for entry to go long and ultimately, the blue trend line must be broken for the move to come.
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